Key takeaways:
- Venture capital firm Standard Crypto has raised $500 million for its new cryptocurrency fund, according to Axios
- Standard Crypto has roughly $1.5 billion in assets under management, according to a source cited by Axios
- The investment firm has made several investments in promising cryptocurrency startups, including NFT-focused Yuga Labs and leading Ethereum Layer 2 scaling Solution Polygon
Standard Crypto raises $500 million in new capital to invest in “equity and crypto”
Cryptocurrency investment firm Standard Crypto has raised $500 million for its new investment vehicle called Standard Crypto Venture Fund I. According to a report from Axios, which cited a source familiar with the matter, the new fund will pursue investments in both equity and crypto.
Standard Crypto was established in 2019 and has since been investing in a range of blockchain and technology companies in the gaming, financial infrastructure, and social networks space.
The company has also pursued a variety of Web3 investments, including in DAOs and DeFi. Case in point, Standard Crypto participated in the $450 million Seed Round of the leading NFT company Yuga Labs in March 2022, and in Polygon’s $450 million Venture Round that concluded in February 2022, to name just a few.
According to a source cited in the original report, the investments across a range of crypto startup companies over the years have seen Standard Crypto’s assets under management (AUM) grow to roughly $1.5 billion.
